Do You Want A Pay Raise?

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Do You Want A Pay Raise?

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Three Mistakes With Retirement Planning Assumptions

October 18, 2012

When we perform well at work, most of us expect that our bosses will reward us with a bonus or a pay raise. Sometimes it can be very elusive on how to actually get an increase in your paycheck, but wouldn't it be great to know how you could control your destiny. This doesn't mean having to suck up for your mid-year review or make a mad dash to sell in the 4th quarter. For certain, we don't want to end up like Clark Griswold and open our bonus paychecks only to find out we were enrolled in the Jelly of the Month Club. Actually, recent studies have shown that exercise can have a dramatic impact on whether you get a pay raise at work even though it's never written in any manual or book at work.

Vasilios Kosteas, economics professor at Cleveland State University and the study's author, told SmartMoney that his study shows that exercise leads to higher pay, since the study compares workers with a similar propensity to exercise. Attractiveness is associated with higher pay, according to several studies. For women, obesity is associated with an 18 percent wage reduction, one study found. (source: huffingtonpost.com). The study found overall that workers that exercise on a regular basis earn more 9% more than inactive workers. Most of us were worried about gaining the freshman 15 when we went to college. In a study done by Career Builder 44% of workers say they have gained weight in their current job. Seems to make sense with these over bloated cafeterias in our workplaces and fast food all around us when we go out to eat. So what can you do about this?

  • START AT THE WORKPLACE - Start at the office. A health club can cost more than $500 a year, but your health plan may give you a break. Customers in 23 Blue Cross/Blue Shield plans (see blue365deals.com for details) can buy memberships for only $300 a year.
  • JOIN FORCES WITH OTHERS AT WORK - Two-thirds of trainers lower their prices for groups, so team up with friends to request a per-person rate that's 20% to 30% less than for a one-on-one session.
  • BUY A GYM - You can check out usedgymequipment.com for lower cost gear. For less than $200, you can get a gym bag's worth of essential exercise gear: dumbbells, resistance bands, a jump rope, and a fitness ball. Then use Nike's free Training Club iPhone app to guide you through your workout.

In the movie Rocky IV, they played the song 'No Easy Way Out' which is one of my favorite motivational songs. If you are really motivated to get a pay raise in the year ahead, it might actually be true that your job performance doesn't carry 100% of the weight. They say your bosses are always watching what you do. Maybe exercising three times a week is just the cure to getting your income to go up while your weight goes down.

Visit oXYGenFinancial.net to request a consultation on how to make smart money moves for your future.

Written by:
Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder of oXYGen Financial, Inc - The Leaders in Gen X & Y Financial Advice and Services
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Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.